Common use of SATISFACTION OF ADP AND ACP TESTS Clause in Contracts

SATISFACTION OF ADP AND ACP TESTS. In each Plan Year, the Plan must satisfy the ADP test described in Section 5.6 and the ACP test described in Section 5.10. The Employer may cause the Plan to satisfy the ADP or ACP test or both tests for a Plan Year by any of the following methods or by any combination of them: (a) By the distribution of Excess Contributions in accordance with Section 5.7, or the distribution of Excess Aggregate Contributions in accordance with Section 5.11, or both; or (b) By recharacterization of Excess Contributions in accordance with Section 5.9; or (c) If the Employer has so elected in the Plan Agreement, by making Qualified Nonelective Contributions or Qualified Matching Contributions or both, in accordance with the Plan Agreement and Section 5.12.

SATISFACTION OF ADP AND ACP TESTS. In each Plan Year, the Plan must satisfy the ADP test described in Section 5.6 and the ACP test described in Section 5.10. The Employer may cause the Plan to satisfy the ADP or ACP test or both tests for a Plan Year by -26- 86 any of the following methods or by any combination of them: (a) By the distribution of Excess Contributions in accordance with Section 5.7, or the distribution of Excess Aggregate Contributions in accordance with Section 5.11, or both; or (b) By recharacterization of Excess Contributions in accordance with Section 5.9; or (c) If the Employer has so elected in the Plan Agreement, by making Qualified Nonelective Contributions or Qualified Matching Contributions or both, in accordance with the Plan Agreement and Section 5.12.